Google and Yahoo internet search engines are examples of:
A. government-implemented models.
B. coordinating mechanism designs.
C. free market pricing models.
D. auction markets.
Answer: B
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According to the equation of exchange, if V = 5, P = 100, and Q = 10, the M is:
a. 20. b. 10. c. 500. d. 1,000. e. 200.
In reality, decisions made by firms may not always produce maximum total profit because some executives
a. are more motivated by altruism. b. are more interested in market share than profits. c. may push research and development to the point that profits decline. d. All of the above are correct.
Which of the following is an example of a normative statement? a. The GDP growth rate has been unstable over five years
b. The tax rate should be reduced to improve the quality of life in an economy. c. The unemployment rate has been below the natural rate of unemployment in the U.S for the last 2 years. d. The inflation rate of 2015 exceeds the inflation rate of 2014.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4Refer to Figure 2.4. The economy moves from Point E to Point B. This could be explained by
A. a change in society's preferences for hybrid cars versus motorcycles. B. an increase in economic growth. C. an increase in unemployment. D. a reduction in unemployment.